EDIT (April 26th 2013): For some time now (I don't know when) the cap is applied just to votes, so it doesn't matter when in the day you get votes vs acceptance.
EDIT (9 Feb 2009): I should have come back to this answer a while ago - the policy was changed back again, so you can get over 200 due to accepted answers.
EDIT (29 December 2008): I've left the text below for historical record, but as of about 29th December 2008 8am UTC, the 200 cap is applied to all reputation.
As others have said, the 200 cap doesn't apply to accepted/accepting answers. However, it's worth noting that (as far as I can tell) the 200 cap is an overall cap, not a cap on points given from voting. This makes timing important. Suppose in one day someone has 10 answers accepted and receives 40 upvotes. Two example timelines:
All the answers are accepted before any of the votes: 150 points for accepted answers, 50 points for votes, and then the rest of the "voting points" are "lost" due to the cap. Total = 200.
All the votes occur before any answers are accepted: 200 points for the votes (the rest being lost due to the cap again) and then 150 points for the accepted answers. Total = 350.
In other words, answers accepted late in the day (UTC) effectively have a higher value. Anyone accepting one of my answers before I've hit the cap aren't really doing my rep any good (assuming I'll get sufficient upvotes to hit the cap anyway). This shouldn't discourage anyone from accepting answers, however - whether mine or others. Reputation is a fun side-show, but the main event here is obviously sharing knowledge.